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119 Unit Apartment Complex Closes in Sacramento

AzaleaCourtRoseville, June 14, 2016

Gallelli Real Estate is excited to announce the sale of Azalea Court located at 3821 Marconi Avenue in Sacramento, California. The 4 two-story apartment building complex closed Tuesday, June 14th with 100% occupancy for $8,910,000. Built in 1965 on 4.09 acres, the property has had exterior renovations and upgrades throughout the complex. The new owner, an active buyer in the Sacramento market, was looking to add to his multifamily portfolio. Azalea Court was a unique opportunity within the Marconi Avenue corridor with a majority of its 119 units being 2-bedroom.

“It is a good time to buy B and C class properties. There is a fair amount of inventory available in the market, priced less competitively than the A class properties.” Rod Ballinger, Senior Vice President, Gallelli Real Estate.

“The apartment was well occupied and because of the desired unit mix, the new ownership has the opportunity to create additional revenue through interior renovations,” said Gary Gallelli, Managing Director.

 

Gallelli Real Estate Welcomes Bob Berndt

Roseville, February 26, 2016

Gallelli Real Estate is proud to announce that Bob Berndt has joined the team as Partner, Executive Vice President. Recognized by CoStar Group as a Top Retail Leasing Broker for the San Francisco Market, Mr. Berndt brings over 27 years of exceptional retail experience including multiple retail expansion projects. As one of the top national tenant representation brokers in Northern California, some of his clients include Sprouts and Barnes & Noble.

“Bob has an impeccable reputation as a leader in tenant representation and we are excited to have him join the team. With his leadership and energy, we know he will be a key player in the growth and success of our company.” Jason Gallelli, Partner, Executive Vice President of Gallelli Real Estate.

“I moved to Gallelli Real Estate to be with a talented group of brokers, at a company that is on the forefront of real estate. I am excited to help Gallelli Real Estate grow and to elevate and accelerate my business with this team.” Bob Berndt, Partner, Executive Vice President of Gallelli Real Estate.

With his 27+ year career, Bob has overseen thousands of retail transactions across the Bay Area. He has served as Senior Vice President at SRS Real Estate Partners for the last 27 years and has been recognized as SRS’s Top Producer six times and CoStar Power Broker San Francisco Market in both 2013 and 2014.

 

Gallelli Real Estate Joins ChainLinks as Newest Affiliate

ChainLinks

Gallelli Real Estate
becomes the newest
ChainLinks Affiliate
for Northern California

ChainLinks, the leading retail brokerage network across
North America, has offices in over 53 major markets and
sets the standard for commercial real estate networking
organizations.

Walmart Central In Folsom Hits The Market At $43 Million

Walmart CentralRoseville, December 2, 2015

Walmart Central in Folsom is officially on the market. The ±139,377-square-foot, 24-Hour Fitness and 99 Cent Only Store anchored retail center is being exclusively listed for $43 million by Gallelli Real Estate. “We anticipate high interest in this property due to the prime location and its immediate value add potential.” Mickey Turpen, Senior Vice President.

Walmart Central is located in one of the dominant retail submarkets in the Sacramento region. The Folsom retail submarket is a market leader in rental rates and has seen vacancy steadily fall 5.0% over the last four years. Retail vacancy in Folsom currently stands at 7.4%. The above-average regional household income, desirable and accessible location and impressive traffic counts make Walmart Central a very attractive value-add investment opportunity for buyers.

Turpen said one reason Walmart Central will be attractive to investors is because it is shadowed-anchored by a Super Walmart. Investor interest in grocery- anchored and or shadow-anchored centers has largely increased as the retail market has strengthened in recent years.

 

The Best Year For Multifamily Sale Prices Yet

THE BEST YEAR FOR MULTIFAMILY SALE PRICES YETRoseville, November 5, 2015

Looking back at the multifamily industry, it is hard to believe that today, multifamily sale prices are higher than they were prior to the recession. Rod Ballinger of Gallelli Real Estate can attest to this as escrow recently closed on Vintage Faire Apartments in Rancho Cordova. The 112-unit apartment complex sold for $8.9 million on November 4th. Gallelli Real Estate represented the owner in this off-market transaction. The apartment complex was built in 1979 and was in dire need of a makeover, closing escrow within 75 days.

“2015 has been one of the best markets in the last 15 years with prices peaking above those prior to the recession. The rental market is very much a landlord’s market with almost no suburban apartments planned. We see continued strength in the multifamily market for the foreseeable future.”

- Rod Ballinger, Senior Vice President, Gallelli Real Estate

A New Definition

A New DefinitionRoseville, October 28, 2015

With a family name known throughout the industry, Gallelli is redefining commercial real estate with a unique blend of tradition, style and kinship. Designed with a modern approach far from the typical corporate policy and the profit fundamentals of international firms, Gallelli Real Estate’s mission is simple - to return the nature of the business to one of culture, dignity, integrity, and relationships.

This week, Gallelli Real Estate was thrilled to welcome one of the most respected commercial real estate teams in

Sacramento, The Gallelli Team Retail Specialists including; Jason Gallelli, Kevin Soares, Jeff Hagan, Matt Goldstein, Kurt Conley, and Dustin Droen, accompanied by marketing specialists Tara Davis and Brenda Pierce-Knutson.

Jason Gallelli, former Executive Vice President of Voit Real Estate Services, whose achievements include five time winner of ACRE’s Overall Broker of the Year Award and six time winner of ACRE’s Retail Broker of the Year Award, has joined the firm as Partner alongside Investment Specialist, Gary Gallelli. With over seventeen years of experience in asset management, landlord and tenant representation, Jason’s attention to detail and industry knowledge strongly reinforces Gallelli Real Estate’s vision of a vibrant, competitive firm, unique from the others.

“Our vision is to build upon a traditional business environment and model, bringing forth the newest in technology, design and market knowledge for our clients. As a boutique firm, our advantage is large. Our success and the success of our clients are not based solely on productivity, but also personal connections, recognition and culture. By utilizing our team’s expertise while embracing new concepts and ideas, we are able to return to a philosophy of collaboration, exceeding expectations and focusing not just on the present, but the future of our clients’ success.

– Gary Gallelli, Partner and Managing Director, Gallelli Real Estate.